Yousif Capital Management LLC Buys 4,915 Shares of Transocean Ltd. $RIG

Yousif Capital Management LLC boosted its stake in Transocean Ltd. (NYSE:RIG) by 23.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,081 shares of the offshore drilling services provider’s stock after acquiring an additional 4,915 shares during the period. Yousif Capital Management LLC’s holdings in Transocean were worth $68,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Townsend & Associates Inc purchased a new stake in shares of Transocean during the 1st quarter worth approximately $32,000. Costello Asset Management INC bought a new position in Transocean during the first quarter valued at $32,000. Verum Partners LLC purchased a new stake in Transocean in the second quarter worth $28,000. Wedbush Securities Inc. bought a new stake in shares of Transocean in the first quarter valued at $35,000. Finally, Stockman Wealth Management Inc. purchased a new position in shares of Transocean during the 2nd quarter valued at $28,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Transocean news, Director Frederik Wilhelm Mohn acquired 4,000,000 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was bought at an average price of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the purchase, the director owned 95,074,894 shares of the company’s stock, valued at approximately $289,978,426.70. This represents a 4.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director (Cyprus) Ltd Perestroika bought 4,000,000 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was acquired at an average price of $3.05 per share, for a total transaction of $12,200,000.00. Following the completion of the purchase, the director directly owned 95,074,894 shares in the company, valued at approximately $289,978,426.70. The trade was a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.27% of the stock is owned by insiders.

Transocean Price Performance

Shares of NYSE:RIG opened at $3.90 on Friday. The company has a 50 day moving average of $3.24 and a 200 day moving average of $2.87. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3.67 billion, a P/E ratio of -2.09 and a beta of 2.68. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $4.74.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RIG shares. Wall Street Zen raised Transocean from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Barclays lifted their target price on shares of Transocean from $3.50 to $4.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Transocean has a consensus rating of “Hold” and a consensus target price of $4.26.

Transocean Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.